Microsoft Nokia buyout finalised

Microsoft’s multi-billion pound deal for Nokia’s devices and services business has cleared its final regulatory hurdle, after getting the seal of approval from the European Commission.

In a brief statement, the EC said: “The Commission concluded that the transaction would not raise any competition concerns.”

It comes just a day after the Department of Justice in Washington D.C. gave the thumbs up to the deal across The Pond. It now means that Microsoft will have its own smartphone brand and will develop Windows Phones for release from 2014 onwards.

For Nokia, it represents the end of the road as a mobile-maker. The company will continue with its Networks and Solutions business, but will no longer make handsets.

Instead, Microsoft will look to use the company’s impressive array of phones to make inroads into Google and Apple’s seemingly imperious lead in the smartphone space.

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